- Investment bank supports Curetis in assessment of all strategic
and tactical financing options
- Publication of H1-2019 financials postponed to September 18,
2019
- Key financials show EUR 7.8 million cash as of June 30, 2019
and significantly reduced cash burn in H1-2019
Elements of this announcement contain or may contain inside
information within the meaning of Article 7(1) of the Market Abuse
Regulation.
Amsterdam, the Netherlands, and
Holzgerlingen, Germany, August 12, 2019, 08:00 am CET -
Curetis N.V. (the "Company" and, together with its
subsidiaries, "Curetis"), a developer of
next-level molecular diagnostic solutions, today announced that it
has retained the U.S. based investment bank, H.C. Wainwright &
Co., LLC, as strategic advisor in an effort to assess all
available strategic and tactical options going forward to
potentially secure appropriate funding and cash for continued
operations for at least the next twelve months. Potential strategic
options that may be explored or evaluated as part of H.C.
Wainwright’s mandate may include, but are not limited to, equity
funding, an acquisition, merger, business combination or other
strategic transaction involving Curetis.
There is no definitive timeline for completion
of the assessment process and there can be no assurance that the
assessment would actually result in Curetis pursuing any
transaction at all or that a transaction, if it were pursued, could
be completed successfully. Curetis does not intend to discuss or
disclose further developments regarding the strategic assessment
process unless and until its supervisory board and its management
board have approved a specific course of action or otherwise
determined that further disclosure is appropriate or required by
applicable laws or regulations.
As part of its ordinary course of business and
regular investor relations efforts, the Company will be present at
the 21st Annual H.C. Wainwright Global Life Sciences Conference to
be held in New York, NY, USA, on September 8-10, 2019.
In the context of the ongoing strategic
assessment, the Company also announced that it will reschedule the
publication of its 2019 First Half-Year Business and Financial
Update and H1-2019 Earnings Call from its original financial
calendar date on August 14, 2019 to September 18, 2019. This allows
for an ongoing review of H1-2019 financials by the Company’s
auditors, especially in light of a series of important new IFRS
standards that are now applicable, such as IFRS 16 “Leases”.
The Company, however, hereby reports certain
preliminary, non-audited financials for the first half of 2019.
Cash and cash equivalents as at June 30, 2019, amounted to EUR 7.8
million. This includes a further EUR 5.0 million tranche under a
debt financing facility provided by the European Investment Bank
(EIB) and the drawdown of the remainder of the first tranche (i.e.
EUR 1.5 million (gross)) under a convertible notes facility
provided by YA II PN, Ltd, an investment fund managed by Yorkville
Advisors Global LP, both as previously announced on May 21, 2019.
Cash burn from operations and investments in H1-2019 has been
reduced by 25.7% year-over-year as a consequence of the successful
implementation of certain corporate reorganization measures.
The worldwide installed base of Unyvero A50
Analyzers as at June 30, 2019, was 170, compared to 162 as at June
30, 2018. This figure includes a significantly sized pool of
Analyzers now managed by Menarini Diagnostics in EMEA (9 new
installations have already been identified for H2-2019) as well as
37 Analyzers installed in the USA (including 20 for current and
future clinical trials). Furthermore, as part of a campaign
performed towards the end of Q2-2019, a total of 10 refurbished
Unyvero Systems were ordered by various international distribution
partners with most of them being sold and shipped in H2-2019.
###
About Curetis
Curetis N.V.’s (Euronext: CURE) goal is to
become a leading provider of innovative solutions for molecular
microbiology diagnostics designed to address the global challenge
of detecting severe infectious diseases and identifying antibiotic
resistances in hospitalized patients.
Curetis’ Unyvero System is a versatile, fast and
highly automated molecular diagnostic platform for easy-to-use,
cartridge-based solutions for the comprehensive and rapid detection
of pathogens and antimicrobial resistance markers in a range of
severe infectious disease indications. Results are available within
hours, a process that can take days or even weeks if performed with
standard diagnostic procedures, thereby facilitating improved
patient outcomes, stringent antibiotic stewardship and
health-economic benefits. Unyvero in vitro diagnostic (IVD)
products are marketed in Europe, the Middle East, Asia and the
U.S.
Curetis’ wholly owned subsidiary Ares Genetics
GmbH is developing next-generation solutions for infectious disease
diagnostics and therapeutics. The ARES Technology Platform combines
the presumably most comprehensive database worldwide on the
genetics of antimicrobial resistances, ARESdb, with advanced
bioinformatics and artificial intelligence.
For further information, please visit
www.curetis.com and www.ares-genetics.com.
Legal Disclaimer
This document constitutes neither an offer to
buy nor to subscribe securities and neither this document nor any
part of it should form the basis of any investment decision in
Curetis.
The information contained in this press release
has been carefully prepared. However, Curetis bears and assumes no
liability of whatever kind for the correctness and completeness of
the information provided herein. Curetis does not assume an
obligation of whatever kind to update or correct information
contained in this press release whether as a result of new
information, future events or for other reasons, except as may be
required by law.
This press release includes statements that are,
or may be deemed to be, “forward-looking statements”. These
forward-looking statements can be identified by the use of
forward-looking terminology, including the terms “believes”,
“estimates”, “anticipates”, “expects”, “intends”, “may”, “will”, or
“should”, and include statements Curetis makes concerning the
intended results of its strategy. By their nature, forward-looking
statements involve risks and uncertainties and readers are
cautioned that any such forward-looking statements are not
guarantees of future performance. Curetis’ actual results may
differ materially from those predicted by the forward-looking
statements. Curetis undertakes no obligation to publicly update or
revise forward-looking statements, except as may be required by
law.
Contact Details
Curetis N.V.Max-Eyth-Str.
4271088 Holzgerlingen, GermanyTel. +49 7031 49195-10pr@curetis.com
or ir@curetis.comwww.curetis.com
Curetis International Media &
Investor InquiriesakampionDr. Ludger Wess / Ines-Regina
Buth Managing Partnersinfo@akampion.comTel. +49 40 88 16 59 64Tel.
+49 30 23 63 27 68
- 20190812_PR_HCW_FINAL_APPROVED
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